10 Data Points to Consider When Buying a Home in the Seattle-Area Cities
Thinking of moving to Seattle area for work or play? Ever wonder which neighborhood to live and why? Look no further as this is a comprehensive guide on what data points to consider when living in Seattle area cities! We will be including examples from Seattle and a comparable neighborhood just outside the city limits. If you want even more comprehensive data on a specific neighborhood you’re interested in, please feel free to reach out to Alex.
1. Neighborhood Characteristics
What to Consider: Proximity to amenities like parks, schools, restaurants, and recreational areas helps determine the overall livability of a neighborhood.
Bothell offers access to North Creek Park, Bothell Landing Park, and the Sammamish River Trail. The Northshore School District is highly regarded, and dining options include Beardslee Public House and The Cottage.
Seattle has a more urban environment, with easy access to parks like Discovery Park and Green Lake Park. Neighborhoods such as Capitol Hill are known for vibrant dining scenes with options like Spinasse and Oddfellows Café. Seattle Public Schools offers many choices, though quality varies by neighborhood.
2. Home Price Trends
What to Consider: Home price trends offer insight into the market's strength. Consider median prices, days on market, inventory levels, and extreme price points.
Bothell
Median Home Price (2023): $950,000.
Days on Market: Homes in Bothell average 21 days.
Inventory Levels: About 1.5 months of supply, indicating a seller’s market.
Highest Sold Price: $3.8 million.
Lowest Sold Price: $425,000.
Seattle
Median Home Price (2023): $840,000.
Days on Market: Homes in Seattle average 27 days.
Inventory Levels: Seattle has 1.7 months of supply, slightly more balanced than Bothell.
Highest Sold Price: $15 million for a luxury waterfront property.
Lowest Sold Price: $350,000 for a small condo or fixer-upper.
3. Property Taxes
What to Consider: Property taxes affect long-term affordability. Rates vary by county and municipality.
Bothell: The 2023 property tax rate is $9.12 per $1,000 of assessed value. For a $950,000 home, the annual tax would be approximately $8,664.
Seattle: The 2023 property tax rate is $9.56 per $1,000 of assessed value. For an $840,000 home, the annual property tax would be about $8,030.
4. Proximity to Job Centers and Major Employers
What to Consider: Proximity to major employers and job centers impacts commute times and future home value.
Bothell is near major biotech companies like Seagen and Philips Healthcare. It is also within commuting distance of tech hubs like Redmond and Bellevue, home to Microsoft and Google. Commute time to downtown Seattle is about 30-45 minutes by car.
Seattle is home to large employers such as Amazon, Starbucks, and Boeing. The commute to major job hubs like South Lake Union and Downtown Seattle is often shorter, with public transit options like buses and the Link Light Rail making it easy to get around the city.
5. Walkability and Transit Development
What to Consider: Walkability and transit access influence convenience and long-term value, especially as new transit options emerge.
Bothell
Walkability Score: 47 (Car-Dependent).
Transit Score: 41 (Some Transit). Bus routes like the 522 and 372 connect Bothell to Seattle, and upcoming Sound Transit Bus Rapid Transit (BRT) expansions will improve access.
Seattle
Walkability Score: Seattle’s downtown core has a score of 90+, making it a “Walker’s Paradise.”
Transit Score: 74 (Excellent Transit), with buses, ferries, and the expanding Link Light Rail making it easy to navigate the city.
6. Future Development Plans
What to Consider: Future developments like new infrastructure, retail, or housing projects can affect home values.
Bothell: The Downtown Revitalization Project in Bothell has brought new businesses and mixed-use developments, including The Junction, completed in 2023, which adds apartments, restaurants, and public spaces.
Seattle: Seattle is expanding the Link Light Rail with new lines connecting Northgate, Ballard, and West Seattle by 2024-2026. Seattle’s tech industry is also fueling large residential and office projects in areas like South Lake Union and Capitol Hill.
7. Local Climate Considerations
What to Consider: Understand potential environmental risks, such as flooding, earthquakes, and liquefaction.
Bothell:
Flood Risk: Homes near North Creek face moderate flood risks, requiring flood insurance.
Liquefaction Risk: Bothell has a low-to-moderate liquefaction risk during earthquakes.
Seattle:
Flood Risk: Areas near the Duwamish River and Lake Union face higher flood risks.
Liquefaction Risk: Seattle has several areas, especially near Pioneer Square and South Seattle, with high liquefaction risk during earthquakes.
8. Average Rental Costs
What to Consider: Rental costs indicate investment potential or help gauge affordability if you’re considering renting first.
Bothell: The average rent for a 1-bedroom apartment is about $2,050/month, while a 3-bedroom home rents for around $3,200/month.
Seattle: Seattle’s rental market is higher, with a 1-bedroom apartment averaging about $2,500/monthand 3-bedroom homes renting for $4,000+ in popular neighborhoods like Queen Anne and Capitol Hill.
9. School Quality
What to Consider: School ratings are important for families and can affect home values. Research school district ratings and the availability of advanced programs.
Bothell: The Northshore School District is highly rated, with schools like Bothell High School and Canyon Park Middle School receiving strong marks (ratings of 8-9 on GreatSchools).
Seattle: Seattle’s schools vary by neighborhood. Schools like Garfield High School in Capitol Hill and Roosevelt High School in Green Lake are highly rated, though some schools in South Seattle may have lower performance ratings.
10. Earthquake and Environmental Resilience
What to Consider: Washington is seismically active, so earthquake preparedness is crucial. Assess homes for seismic retrofitting and structural integrity.
Bothell is in a low seismic hazard zone, though earthquake retrofitting is still recommended for older homes.
Seattle has a higher earthquake risk, particularly in areas with older homes. Retrofitting is common, especially in neighborhoods like Capitol Hill and Ballard, where many houses were built before modern earthquake standards were in place.
Summary
When comparing Bothell, WA and Seattle, WA, both locations offer distinct benefits depending on your priorities. Bothell provides a quieter suburban feel with more space and proximity to tech hubs like Redmond, while Seattle offers an urban lifestyle with access to major job centers and public transit. Key considerations such as property taxes, commute times, walkability, and school quality differ between the two areas, allowing buyers to select based on their personal needs and long-term goals, while adhering to fair housing regulations that protect against discrimination based on race, religion, or other characteristics.
